$GUILD Buyback and Burn Update: Four Key Batches Completed
BlockchainSpace has demonstrated its commitment to the $GUILD token and its community by successfully completing four key buyback batches as part of our ongoing Buyback & Burn Program. This initiative started with significant buyback activities on February 14, 2024, followed by three more batches on May 9, 2024. These buybacks are the first step in our strategy to enhance the token’s value and support the growth of our ecosystem.
Key Highlights
- Approximately 1.5 million $GUILD tokens have been acquired through these buybacks, ready for future burning phases.
- The total supply of $GUILD tokens remains at 1,000,000,000 $GUILD.
- These buybacks set the stage for the next phase of our program, which involves burning the acquired tokens to reduce the overall supply. These buyback and burn initiatives are integral to our broader strategy to actively manage the token’s supply, driving more stable and sustainable growth.
More on the Buyback and Burn Program
In December 2023, BlockchainSpace released an updated YEY-$GUILD tokenomics and whitepaper, enhancing the $GUILD token sinks and its utility within our flagship product, YEY.
This is designed to correlate the token with the activity and engagement on our community rewards platform, supporting a sustainable and vibrant ecosystem.
- Supply Reduction: By permanently removing a portion of $GUILD tokens from circulation, the total supply decreases, potentially increasing the token’s value per unit due to the reduced availability.
- Increased Demand: As BlockchainSpace’s YEY platform continues to grow and attract more users, the demand for $GUILD tokens is expected to rise, further benefiting from a reduced supply.
- Community Confidence: Regular buybacks and burns demonstrate BlockchainSpace’s commitment to the token’s long-term viability, potentially increasing holder confidence and attracting new investors.
Ongoing Efforts and Next Steps
Transparency is a cornerstone of this initiative. BlockchainSpace provides regular updates on key statistics such as the number of Shinys minted, $GUILD bought back, and $GUILD burned. These updates are readily accessible on the BlockchainSpace website, ensuring the community remains informed and engaged.
We are meticulously preparing for the first burn of the acquired $GUILD tokens. We will update the community on each step, and all details will be available through our official channels.
As always, we value our community’s input. Please stay engaged through our official channels, and don’t hesitate to share your thoughts and feedback. We thank you for your unwavering support and look forward to continuing this journey together.
Disclaimer: It’s important to understand that the value of $GUILD or Shinys can significantly fluctuate. You should transact or engage in these assets only if you are familiar with them and thoroughly understand how they are created, transferred, or held. Please be aware of the risk involved, acknowledging the possibility of financial loss due to value changes.
About BlockchainSpace
BlockchainSpace, a Singapore-based Web3 company backed by leading investors, fuses technology and culture to empower diverse communities across Southeast Asia — from gaming and the creator economy to sports, music, and everything in between.
Offering specialized solutions like YEY, Metasports, Creator Circle, and the Guilds Hall, BlockchainSpace delivers tailor-fit tech solutions that redefine digital engagement and community growth.
$GUILD is the utility token that underpins BlockchainSpace's entire ecosystem. Beyond building platforms, BlockchainSpace is shaping the future of community-driven digital landscapes.
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